Binance CEO Changpeng ‘CZ’ Zhao blamed banks for the trade delay in processing USD Coin (USDC) withdrawals in a Dec. 13 tweet.
CZ added:
“These are 1:1 conversions, no margin or leverage concerned. We may also attempt to set up extra fluid swap channels sooner or later.”
The Binance CEO additional urged customers to withdraw funds utilizing different stablecoins like USDT and BUSD.
The trade’s official account additionally tweeted concerning the challenge and stated it briefly paused USDC withdrawals as a result of conducting a token swap involving the stablecoin.
In line with its official standing web page, USDC withdrawals had been suspended on Ethereum (ETH) and Tron (TRX) blockchains as a result of its sizzling wallets had been being replenished. In distinction, it stopped withdrawals on the BNB Beacon Chain as a result of it was present process upkeep.
The submit Binance clarifies USDC withdrawals had been as a result of token swap, replenishing sizzling pockets appeared first on CryptoSlate.
